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Trustees hear insurance options as village premiums doubled after past claim
Summary
MetzWood Insurance presented options to the Kinderhook Village Board as trustees reviewed why premiums rose from roughly $30,000 to $60,000 after a major incident; the board discussed NYMIR pool coverage, broker proposals, and trade‑offs between lower premiums and coverage gaps.
Mayor Dorene Weir opened the board’s insurance presentation at 6:00 p.m., when Mike Van Allen of MetzWood Insurance outlined current coverage options and cost drivers for the village. Trustee James Mark Browne summarized the village’s insurance history and told the board that a major insurance event about six years ago contributed to premiums climbing from approximately $30,000 to about $60,000.
The board reported it had shopped coverage broadly: most municipal coverages currently come through NYMIR, the trustees met with Reis Group (which estimated possible savings of 5–10% but warned other coverages could rise), and discussed proposals from other brokers. The committee analyzed assets, deductible strategies, self‑insurance and an incremental risk figure of $125,000 to weigh premium savings against exposure. No decision was made; trustees said they would report back at renewal in September.
